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The Reserve Bank of Australia says describing the Australian property market as a bubble is “unrealistically alarmist”.
Assistant governor of the RBA, Malcolm Edey, says while house prices are increasing it’s part of a normal cycle of price growth and decline.
“Demand for housing is strengthening at the moment there’s no doubt about that but it’s important to keep this things in perspective,” Edey told Financial Services Conference in Sydney yesterday.
“Looking back over the last 10 years or so house prices have risen at a rate similar to or on average less than the growth of household incomes so the ratio of house prices to incomes over that period has been roughly flat or most of the time tending actually to fall.
“Within that trend however inevitably there will be cycles and there have been periods where that ratio has been rising and periods where it has been falling, or to put it another way periods when the rate of increase in house prices have been higher than average and periods when it’s been lower than average.”
He acknowledged that house prices are increasing faster than average right now but said this doesn’t constitute of bubble.
“We shouldn’t be rushing to reach for the bubble terminology every time the rate of increase in house prices is higher than average because by definition that’s 50% of the time and you’re just going to be unrealistically alarmist by making that call every time that happens,” he said.
He clarified the wording of the RBA’s minutes released on Tuesday.
“This is an area to watch but we do need to keep it in the sort of perspective that I’ve just been talking about.”
Meanwhile 1300HomeLoan boss John Kolenda has called for the RBA not to increase rates.
“We would not like to see any knee jerk reaction from the RBA should economic conditions continue to improve," he said.
He said the RBA lifted rates too high and too fast during 2009 and 2010 after lowering them in response to the global financial crisis.
“That caused a lot of damage to businesses and consumers with the RBA since then making eight rate cuts to try and make amends and stimulate activity,” he said.
 “Borrowers remain particularly vulnerable to the impact of a rate increase while they continue to deal with significant rises in the cost of living and all the other concerns surrounding the economy.”
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awalsh-7Ub9EypybQ

Bubble concerns “unrealistically alarmist”: RBA

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Melbourne is at risk of losing its liveability with an inexorable creep of its low density urban sprawl, the Department of Infrastructure and Transport.
It quoted Terry Rawnsley and Marcus Spiller in its State of Australian Cities 2013 report published recently.
“Metropolitan Melbourne may be drifting towards a seriously divided city which cannot credibly claim sustainability or superior liveability. Just as importantly, this urban structure is doing nothing to improve human capital and labour productivity at a time when the nation is in pressing need of a boost in this area,” it quoted.
“This disadvantageous pattern of urban development may not be planned and its consequences not intended. But it is certainly not accidental. Successive generations of plans for metropolitan Melbourne have promoted a poly-nucleated structure.”
It says there is more of a push towards low density satellite towns which take people away from employment – running counter the aims of a city.
“The reality, however, is that the metropolis is afflicted with relentless pressure for low density urban expansion into districts that are increasingly distant from the main concentrations of employment.”
“This pressure is fuelled by a compelling bipartisan agenda to improve housing affordability for ordinary households. Regrettably, trying to solve the affordability problem by cutting up more land on the urban fringe may be like trying to fix a flagging economy by printing more money.
“Ultimately, this approach may devalue the whole metropolis and compromise its capacity for sustainable prosperity.”
The report later says the outer fringe is dominated by new home owners though scattered with renters.
“In Australia’s larger cities, home renters predominate in the centre while outright homeowners are generally found in the middle suburbs. In the outer suburbs new homes are being purchased – this is the so-called ‘mortgage belt’. On the fringes of cities there is an outer belt of home renters. This outer belt of renters appears to be little studied,” the report said.
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Melbourne's urban sprawl decreases its liveability

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The Reserve Bank of Australia has indicated it may still lower interest rates though likely not in the short term.
It was enthusiastic about the response to previous rate cuts, according to RBA minutes published today.
“Members agreed that the Bank should again neither close off the possibility of reducing rates further nor signal an imminent intention to reduce them. The Board would continue to examine the data over the months ahead to assess whether monetary policy was appropriately configured,” the minutes said.
It said building activity had increased, dwelling prices increased to 7% above previous troughs, clearance rates are noticeably higher than a year ago and housing turnover has increased.
“Overall, recent data and information from liaison were consistent with further recovery in the established housing market and moderate growth in dwelling investment.”
It said previous cuts worked well to provide policy stimulus, particularly in housing.
“Lending rates had declined to historically low levels as a result, which, together with the lower – though still high – exchange rate, were continuing to provide a substantial degree of policy stimulus to the economy.”
“This was most evident in the housing market, with the lags in the effect of policy meaning that earlier actions were still likely to take some time to have their full effect on demand more generally.”
But it warned banks to remain vigilant in their lending policies.
“Members observed that banks' asset performance and funding structures continued to improve, and their profitability remained strong compared with that seen in most other advanced economies. In the current environment of low interest rates and slow credit growth, members agreed that it was especially important that banks maintained prudent lending standards.”
It warned it could start looking closely at property gearing in self-managed super funds.
“Property gearing in self-managed superannuation funds was one area identified where households could be starting to take some risk with their finances; members noted that this development would be closely monitored by Bank staff in the period ahead.”
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RBA says it could still lower rates

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The International Monetary Fund has warned that low interest rates and low inflation can fuel a property bubble even in countries with economic tranquillity.
It doesn’t isolate Australia but it has called for stricter bank lending standards to mitigate the threat of a property bubble.
“Where low policy rates are consistent with low inflation, they may still contribute to excessive credit growth and the build-up of asset bubbles and sow the seeds of financial instability,” the IMF wrote in its staff paper titled “Key Aspects of Macroprudential Policy”.
“Country experiences suggest that exposures to tail risks, including sharp changes in interest rates, house prices and exchange rates, tend to increase in the run-up to crises as lending standards fall and the terms of financial contracts change,”
It says there should be a global tightening of lending standards.
"A number of countries have found that the pass-through of an increase in capital requirements on mortgage loans to loan growth can be limited when strong increases in asset prices and credit feed each other,” it says.
"This suggests the use of additional tools that act on the demand for credit and directly increase the resilience of borrowers to shocks."
Tools it advocates include limits on loan to value ratios and debt to income ratios which it says mitigate the effects of low interest rates on financial stability.
“An LTV ratio introduces a cap on the size of a mortgage loan relative to the value of a property, thereby imposing a minimum down payment. A DTI ratio restricts the size of a mortgage loan to a fixed multiple of household income, thereby containing unaffordable and unsustainable increases in household debt,” the report says.
“The available research suggests that these tools can reduce feedback between credit and prices in upswing, as well as improve resilience to shocks, thereby reducing default rates and boosting recovery values when the housing market turns.
“However, they can also be seen as more intrusive and calibration can seek to soften their impact, e.g., by exempting first-time buyers. Moreover, the evidence suggests that LTV ratios can have a relatively strong effect on house prices and aggregate demand, which can justify a gradual approach to tightening of such ratios (as in Canada and the Netherlands).
It also says imposing taxes will help offset the risk of a property bubble.
“Taxes can also affect asset prices. As future tax liabilities are capitalized, in principle, imposing taxes during a boom can make bubbles less likely; or the announcement of future tax relief on asset returns can support asset prices during a bust,” the report says.
“For example, during the crisis countries have used tax measures to bolster house prices by removing stamp duties on housing transactions or extending mortgage interest relief. Stamp duties have more recently also been used in a number of countries to lean against house price appreciation, such as in Singapore and Hong Kong.”
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Low interest rates fuel property bubble: International Monetary Fund

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Stockland is the most sustainable real estate company in the world, according to the 2013-2014 Dow Jones Sustainability Index.
The index looks at the environmental, social and economic performance of companies.
It assesses corporate governance, risk management, climate change strategy, environmental management, human capital development and stakeholder engagement.
“Recognition of Stockland as a global leader reflects our commitment to embedding sustainability into our everyday business practices,” Stockland Mark Steinert said.
“There is inherent value creation that includes, but also goes far beyond, monetary measures and we place a strong emphasis on our environmental performance, social inclusion and diversity in everything we do.”
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Stockland wins sustainability award

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Banks are increasingly aggressive in their bid to poach mortgage customers according to the chief executive of Bendigo and Adelaide Bank.
He says there is less competition for depositors in recent months as banks push for mortgages in a time of subdued demand for credit.
“On the assets side, it is quite aggressive on the home loan book at the moment,” Hirst said in an interview at the Bank of America investor conference in New York attended by The Australian Financial Review last week.
He says National Australia Bank’s offer of $1000 to switching borrowers equated to about $4 a week over the life of a mortgage.
Westpac has increased the discount on its new home loans by 0.9%, which ME Bank and AMP are increasing commissions paid to brokers and Macquaririe Bank has been competing aggressively for customers.
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Banks compete for mortgage customers: Bendigo and Adelaide Bank chief

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The administrators of a Broome resort development are reportedly due to sell 75 luxury apartments in one line.
Tropicana Enterprises was redeveloping the Tropicana Inn in Broome but entered in administration in June this year after poor sales.
Administrators KordaMantha told The Australian Financial Review possible buyers could easily emerge from Asia.
The company reportedly owes financier Bankwest $25 million.
The run of apartments will be sold by CBRE.
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Broome resort administrators to sell 75 apartments in one line

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Demand for land in the Gold Coast and the Sunshine Coast has collapsed with lot production levels at less than a third of levels in 2007 and 2008, according to research firm BIS Shrapnel.
A 30-year low for net interstate migration into Queensland in 2010/11 compounded by an excess dwelling supply and a reduced affordability advantage over Brisbane has slashed demand for new dwellings, BIS Shrapnel says.
It says supply is further constrained by limited access to finance for developers due to lingering financial constraints after the global financial crisis.
“We expect any upturn in the both the Gold Coast and Sunshine Coast markets to be relatively slow,” BIS Shrapnel’s Angie Zigomanis says.
“There is little pent up demand in both markets despite the low level of new dwelling supply, while local economic conditions remain weak.
“Two of the main economic drivers of both regions are tourism and construction, and while there is some light at the end of the tunnel with large social infrastructure projects commencing in both regions, it will be some time before these two sectors can contribute substantially to employment growth.”
But he says low level of new dwelling activity means excess stock is being absorbed and vacancy rates are rising which will lead to an improvement in residential demand.
But any recovery hinges on stronger conditions in Brisbane.
He forecasts a rise in lot production levels in 2013/14 – although he says activity will remain painfully low until stronger rises emerge from 2014/15.
Lot production will double to 2,600 lots in the Gold Coast and 2,100 lots in the Sunshine Coast by 2016/17 but will remain well below the peak of 2006/07, BIS Shrapnel predicts.
He says developers may reduce lot sizes to boost affordability though new lifestyle home buyers may not accept smaller lots.
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Demand for land in Gold Coast has collapsed

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Art dealer Adrian Slinger’s one hectare beachfront property in Noosa is being sold in a mortgagee in possession sale.
Slinger bought the property, at <a href="https://www.offermann.com.au/buying/71_seaview_terrace_sunshine_beach/">71 Seaview Terrace</a> in Sunshine Beach, in 2002 for $4.35 million, according to RP Data.
Prior to that it sold for $680,000 in 1987.
In July it was offered for $8.8 million but failed to sell, leaving the banks in control of the property.
The property borders the Noosa National Park and reportedly neighbours properties owned by Pat Rafter, art dealer Philip Bacon and Oakley Sunglasses baron Steve Perry.
Slinger owns a gallery in Noosa Heads.
He represents Australian painter  David Rankin and stocks art from Charles Blackman, Arthur Merric Bloomfield Boyd, Ray Austin Crooke, Frank George Hodgkinson, Elwyn Augustus (Jack) Lynn, Victor Majzner, Jeffrey T. Makin, Sidney Robert Nolan, John Henry Olsen, John Peart, Clifton Ernest Pugh and Albert Lee Tucker.
The Australian Financial Review reports he was offered more than $15 million for the property in 2007.
It is being sold by agent Tom Offermann who says there are 20 potential buyers listed for the September 27 auction.
“Values have been quite depressed here with a minimum 30% drop in values,” Offermann told The Australian Financial Review.
“However, there is really nothing negative left holding people back from entering the market. Interest rates low and as people look to roll over term deposits, they are looking to get into property instead.”
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Art dealer's Noosa property in mortgagee sale

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The National party has warned there could be a rush of foreign investors buying farms if the Coalition does not quickly implement its foreign investment review changes.
The Coalition plans to lower the price threshold for scrutiny of foreign purchases of rural land from $248 million to $15 million.
Nationals senator John Williams told a post-election meeting that the government would need to act quickly to mitigate a rush of buyers coming in before the new threshold comes into place.
“I want to see these things done sooner rather than later. If the message is out there that we are going to tighten regulation, there could be a mass purchase of some properties to get in before the rules change,” he told the meeting according to The Australian Financial Review.
Fiona Nash also says the government needs to move quickly.
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Delays on foreign investment changes could lead to farm-buy rush: Nationals

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Alistair Walsh

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